INFORMATION PACKAGE
04 PROGRAM OVERVIEW
07 STUDY/SUPPORT MATERIALS 10 EXAM FORMAT 05 ELIGIBILITY CRITERIA
12 PROGRAM FEES 06 PROGRAM TIMELINE 09
08 COURSE EXEMPTIONS 15 APPLICATION DETAILS FAQS FOR PROSPECTIVE CANDIDATES
IMA:350 - ETHICAL GUIDE FOR THE ASSESSOR
PROGRAM OVERVIEW
Introducing the IMA’s Fast Track Designation Program, an intensive cohort style program designed to meet the evolving needs of experienced assessment professionals across Canada.
Through FTDP, qualifying members can earn their A.I.M.A. Designation or M.I.M.A. Accreditation in as little as seven or nine months, respectively. Following a rigorous seven-month study period, qualifying candidates are given the opportunity to write one composite exam based on all applicable A.I.M.A. or M.I.M.A. course content.
Candidates who have already completed one or more of the required courses, either directly through the IMA or through the Prior Learning Assessment Recognition (PLAR) program, will be exempt from that portion of the exam. Read on to learn more about the program benefits, eligibility, timeline, and much more!
ELIGIBILITY CRITERIA
FTDP is available to IMA members in good standing who meet the following eligibility criteria:
A.I.M.A. Requirements
At least three (3) of the past five (5) years’ related work experience in the field of real property assessment/valuation.
AND
A post-secondary degree or college diploma.
To learn more about all courses required to complete the A.I.M.A. Designation visit the IMA website
M.I.M.A. Requirements
An A.I.M.A. Designation and at least five (5) of the past seven (7) years’ related work experience in the field of real property assessment/valuation.
OR
A post-secondary degree or college diploma and at least seven (7) of the last nine (9) years’ experience in the field of real property assessment/valuation.
To learn more about all courses required to complete the M.I.M.A. Accreditation visit the IMA website
To meet the CRA’s eligibility criteria for tax-exemption, this program is only available to current IMA members. Nonmembers who meet eligibility criteria will be automatically enrolled as, and billed for, an Affiliate membership ($174 + HST/annum).
Note: There is a minimum load of three courses to be eligible for the FTDP. The Expert Valuation Report & The Ethical Guide for the Assessor are excluded from the course minimum
Applicants must satisfy the required work experience criteria from the date of their FTDP application.
As a participant in the inaugural FTDP Cohort, I found the experience challenging and fulfilling. Looking forward to continuing my professional development and learning experiences through the IMA!
Eddy A. Fayad M.I.M.A. London, Ontario Property Valuation Specialist, MPAC
PROGRAM TIMELINE
ACTIVITY TIMELINES
Application Window
Applicants Notified of Admission Status
Access to Study Materials Granted
Individual Study/Exam Preparation
Book and Complete Composite Exam
Composite Exam Results Released
Expert Valuation Report Due:
Anytime
Within 3 weeks of application
Within 1 week of admission to program Up to 7 months from admission
Within 7 months from admission
Within 1 week of exam completion
M.I.M.A. Candidates Only
Book and Complete M.I.M.A. Oral Interview -EVR not required:
Complete M.I.M.A. Oral Interview- EVR required:
Please
Within 3 months of exam completion
Within 1 month of exam completion
Within 1 month of EVR completion
Exam Rewrites (if required)
STUDY/SUPPORT MATERIALS
Candidates will have access to the following study materials and support for each course:
Electronic course manual (hard copies available for an additional fee)
Online lesson plans to progress through course material
Lesson quizzes to test knowledge and identify gaps
Opportunity to create private study groups to collaborate with fellow FTDP candidates
On-demand webinar with content specialists
Access to a dedicated course instructor
All material will be housed on the IMA’s new interactive and engaging Learning Management System. Candidates will receive access to all course material as per schedule above. Webinars will be recorded and posted to the learning portal for those unable to attend.
COURSE EXEMPTIONS
There are two paths to receiving exemption(s) from a course:
Path 1 Path 2
Courses Previously Completed Through the IMA PLAR Recognized Courses Completed Through a Recognized Provider
Additional Requirements
Course(s) must have been completed between 2000present.
How to Claim
During the program application process.
Course(s) must be approved for exemption on the PLAR Recognized Courses page.
Course(s) must have been completed within the last ten years.
During the program application process (supporting documents required); or:
In advance of the application through the PLAR application page.
The M.I.M.A. Fast Track program gave preparation for success. The self-paced instruction, provided guidance and development of required concepts efficiently. Highly recommend this program to Real Estate Assessment Professionals.
Rebecca Bennett, M.I.M.A.
Port Dover, Ontario Property Valuation Analyst, MPAC
IMA-350: ETHICAL GUIDE FOR THE ASSESOR
(MANDATORY COURSE FOR ALL CANDIDATES)
Unless previously completed, all candidates (both A.I.M.A. and M.I.M.A.) are required to complete the full course for IMA-350: Ethical Guide for the Assessor. This course is mandatory for all Designated and Accredited members of the Institute.
Candidates will receive access to the course as per schedule above. All course requirements must be submitted within 3 months of admission into the program.
Course Description
This course examines the provisions in the IMA Code of Ethics and how they apply in a variety of work situations, and it also explores the requirements when serving as an expert witness. In addition, the course emphasizes the importance of two other factors when it comes to promoting ethical behaviour – the personal values of the individual and the culture/values embraced by the organization/employer.
Course Outcomes
Upon completion of this course, participants should be able to:
• Understand the ethical expectations of members of the Institute of Municipal Assessors, specifically as it relates to their profession, employers/clients, colleagues, and themselves.
EXAM FORMAT
Candidates will write one composite exam following the study period. Exam details are summarized below:
Dates Location Format
Duration
Passing
For example:
Within 7 months of admission into the program
Online with a live remote proctor, OR at a pre-approved test centre
25 randomly selected multiple choice questions per course
35 minutes per course (to a maximum of 4 hours)
70% overall, with a minimum grade of 50% per course
• Candidate A completing four courses would write a 100-question composite exam in a maximum allotted time of 2 hours and 20 minutes.
• Candidate B completing six courses would write a 150-question composite exam in a maximum allotted time of 3 hours and 30 minutes.
*Exam rewrites will be available to candidates who earn a grade between 55%-69%.
So many courses, so little time! It seemed daunting to get through the requirements of a designation, but the opportunity to pursue accreditation through an accelerated program was worth it! I knew a deep understanding of valuation theory was a necessity if I wanted to thrive in my career. Although it required dedication and discipline to learn at a faster pace, the results of the program positively impacted my career. I cannot imagine where I would be if I chose not to take the leap and accelerate my learning and growth through the IMA.
Drew Samuels, M.I.M.A., Q. Med
Mississauga, Ontario
Senior Litigation Advisor, DuCharme, McMillen & Associates, Inc.
I had been an A.I.M.A. member for several years and had not been able to find the time to complete the remaining requirements for my M.I.M.A. accreditation. The opportunity to remedy that situation came along when the Institute offered an accelerated program. While the program was challenging and intense, it was incredibly satisfying to complete the remaining requirements needed to achieve the M.I.M.A. I am very grateful and pleased that I pursued the opportunity when it came along!
Geoff Watts, M.I.M.A. London, Ontario
Senior Director, Altus Group Tax Consulting Paralegal Professional Corporation
PROGRAM FEES
Fees are dependent on the number of courses remaining to complete the designation. Program fees include: A non-refundable fee of $250 must be submitted with a candidate’s application. That fee will be applied to the outstanding program balance for successful applicants.
Fee Per Course Exemption (From the Recognized Course List)
Program invoices will be issued within 3 weeks of the acceptance email. Candidates have the option of paying in full upon receipt, or in two installments:
• 50% within 1 week of invoice, in order to receive access to study materials.
• 50% within 3 months of invoice, in order to receive exam booking details.
Fee Example:
Julie is a property assessment professional with five years of related work experience holding a four-year degree in Economics. She is an Affiliate member seeking to enroll in the A.I.M.A. track. Over the last five years, she has completed the following courses:
• IMA-300: The World of the Assessors (Through the IMA)
• IMA-301: Introduction to Real Property Assessment (Through the IMA)
• BUSI 444: Advanced Computer Assisted Mass Appraisal (Through UBC)
Julie would write one composite exam for the four remaining required courses to attain her A.I.M.A. She would be invoiced for the following:
PLAR Fee (Exemption from IMA-343 for BUSI 444)
Candidates with extenuating circumstances may apply to defer their exam. The Accreditation Committee will review deferral applications on an individual basis.
APPLICATION DETAILS
Applications will be completed online, via the IMA website Note that the application must be completed in one sitting, we recommend setting aside 10–15 minutes to complete it. Applications are open on an ongoing basis. You will be required to provide the following with your application:
• A current resume.
• Supporting documents confirming all previously completed courses.
• Transcripts/diplomas for each diploma/degree attained.
• Professional Reference: A signed reference letter from your manager is required, this reference letter should include why they would recommend you for the FTDP.
• $250 application fee.
Applications will be screened for final approval by the IMA Accreditation Committee. Applicants will be notified by email if they have been accepted into the FTDP cohort.
Visit the FTDP home page to access the application links
*All documents must be submitted in PDF format. Note that the application must be completed in one sitting, we recommend setting aside 10–15 minutes to complete it. If you have any questions or need assistance during the process, please contact us at info@theima.ca.
FAQS FOR PROSPECTIVE CANDIDATES
Eligibility/Application
I’m not a member of the IMA. When do I join?
The IMA’s membership year runs from April 1 - March 31. Non-members are welcome to apply for the program. If accepted, they will automatically be enrolled in and billed for an Affiliate membership ($174 + HST). Prorated fees could apply.
My experience is short by a year. Will the Accreditation Committee make exceptions?
No. This program is designed to recognize knowledge gained through work experience. We encourage candidates to progress through the traditional route until they reach eligibility.
Will the program fees be recognized as tuition fees for income tax purposes?
Yes. The IMA is certified by Human Resources and Skills Development Canada as an “Educational Institution.” This certification allows students from all provinces and territories to claim IMA course fees as tuition expenses.
Can I withdraw my application if I change my mind?
Candidates may withdraw their application within 4 weeks of approval. The application fee of $250 will be forfeited.
I am in the middle of an IMA course through the traditional route. Can I transfer into the Fast Track Program?
We strongly encourage students to complete their current course(s) through the traditional route; however, we will consider extenuating circumstances.
I am self-employed. Who can I use as a job reference for my application?
If you are self-employed, you must provide two accredited professional references (either an Accredited M.I.M.A. member and/or an LSO member) to certify your work experience.
Course Exemptions
Why is there a time limit on previously completed courses in order to be recognized for exemption?
The industry and course curriculum have changed significantly over the years. This limit helps protect the value/reputation of IMA designations and equips candidates with the knowledge required to succeed in today’s professional environment.
I took a course from the PLAR recognized courses list, but it’s listed under “Challenge Exam.” How does that work?
Two options:
1.Complete the questions related to that course as part of the FTDP composite exam. 2.Apply for and write the challenge exam separately through PLAR. Contact us for timelines.
Can I split the composite exam over more than one Fast Track cycle? (i.e., Can I write one composite exam on half the required courses in 2024 and another composite exam in 2025 for the remaining courses?)
No. This is an intensive cohort-style program designed to be completed in one cycle. We encourage candidates to complete courses through the traditional route should they wish to move at a slower pace.
Can I work on my Expert Valuation Report (EVR) before writing the exam?
Yes. M.I.M.A. candidates will receive instructions for the Expert Valuation Report with the rest of their course materials upon approval and payment
Can I defer my exam to next year?
Deferrals will be considered on an individual basis for extenuating circumstances. Requests will be reviewed by the IMA Accreditation Committee and determined on their individual merits.
Are the webinars mandatory?
No. This is an individual study program. While candidates are encouraged to take advantage of all support materials and resources, none are mandatory.
Can I take some courses through the traditional route?
Yes. Courses completed through the traditional route must be completed within 3 months of admission into the program. You need a minimum of 3 courses to access FTPD (IMA - 350 exempt from 3)
Is the passing grade for the exam 70% per course, or 70% overall?
The passing grade for the composite exam is 70% overall, with a minimum score of 50% per course.
